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Repurchases of own shares

Swedbank holds own shares to secure the commitments in its performance and sharebased remuneration programmes. Remuneration is paid in the form of deferred shares with the purpose of building long-term commitment among employees through share ownership. The first transfer of deferred shares related to Swedbank’s remuneration programmes began in February 2014.

Development holding of repurchased sharesNo of sharesDilution
effect
Original amount of own shares to secure the committment of the remuneration programmes33 000 000 
Transfer to employees 20143 249 4230,3%
Transfer to employees up until Dec 20153 148 6050,3%
Current holding of own shares Dec 201526 601 972 

The 2014 Annual General Meeting authorised the Board of Directors, during the period until the 2015 Annual General Meeting, to resolve on the aquisition of the bank's own shares in Swedbank AB. The buyback authorisation is justified as one of several measures to give the Board of Directors the possibility to continuously adapt the bank‟s capital structure to existing capital needs.

Swedbank’s total holding of own shares, including the shares traded on its own account within the securities operations, shall not exceed 10 per cent of the total number of Swedbank shares.

No of outstanding shares as of 31 Dec 2015

 

Repurchases within the securities operations

Swedbank, as previously, needs to acquire its own shares within its securities operations in order to facilitate its securities business activities. This, among other things, enables the Bank to:

  • fullfil its market-maker commitment according to agreements with certain market places, including with Nasdaq OMX Stockholm in respect of warrants in the bank;
  • quote prices of the Bank’s shares to customers, as well as the share prices of other listed companies; and
  • manage the risk coverage of index-linked bonds issued by the Bank as well as index baskets and warrants where the Bank is itself responsible for part of the risk coverage.
     

Consequently, the 2014 Annual General Meeting decided to permit the Bank’s securities operations, for the period up to the 2015 Annual General Meeting, to purchase Swedbank shares to the extent that the total holding of such shares at any given time does not exceed 1 per cent of the total number of shares in Swedbank and at a price equivalent to the prevailing market price at any given time. 
 

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